Tatva Chintan IPO ends with robust subscription; Check out details here

On the last day of subscription, the IPO was oversubscribed 180.36 times on Tuesday.

Jul 22, 2021 01:07 IST India Infoline News Service

Initial Public Offer, IPO
Specialty chemicals manufacturing company Tatva Chintan Pharma Chem IPO becomes the second-most subscribed public issue of the calendar year 2021 where it has received bids for 58.83 crore shares as against 32.61 lakh shares on offer, according to stock exchange data on Tuesday. The issue was oversubscribed 180.36 times.

The non-institutional investors (NIIs) category was subscribed 512.22 times. The qualified institutional buyers (QIBs) category was subscribed 185.23 times. The retail individual investors (RIIs) category was subscribed 35.35 times, as per stock exchange data.

Tatva Chintan Pharma Chem on July 15, 2021, allotted 13,85,040 equity shares to 22 anchor investors, at Rs1,083 per equity share, aggregating to Rs149.99cr.

The issue opened for bidding on July 16, Friday and closed on Tuesday, July 20.

The price band of the IPO was fixed at Rs1073-1083 per share.

Below are the details that you need to know:

Allotment details

The company will finalise the basis of allotment on Monday, July 26,  2021.

The initiation of refunds or unblocking of funds from ASBA accounts will take place on July 27, 2021. While, the equity shares will be credited to depository accounts on July 28, 2021. The IPO investors can check the IPO allotment status via BSE and the registrar’s websites.

The registrar of the issue is Link Intime India Pvt Ltd, a SEBI-registered entity, responsible for the IPO allotment and refund processing.

Tatva Chintan IPO Grey Market Premium (GMP)

Tatva Chintan IPO GMP is at Rs900. This indicated that shares on the grey market are trading at Rs1,973 to Rs1,983 per share. This is around 83 per cent higher than the price band of Rs1073 to Rs1083 per equity share that was listed for the IPO.

On Wednesday, the grey market premium shot up to Rs915 per share.

Expected listing date

The equity shares of the company are likely to make their stock market debut on Wednesday, July 29, 2021.

About company

Tatva Chintan Pharma Chem is a specialty chemicals manufacturing company engaged in the manufacturing of a diverse portfolio of structure-directing agents (SDAs), phase transfer catalysts (PTCs), electrolyte salts for super capacitor batteries and pharmaceutical and agrochemical intermediates and other specialty chemicals (PASC).

It is the largest and only commercial manufacturer of SDAs for zeolites in India. It also enjoys the second-largest position globally. In addition, the company is one of the leading global producers of an entire range of PTCs in India and one of the key producers across the globe. As on 31 March 2021, the company manufactures over 154 products.

Related Story

Open Free Demat Account (Rs699)